We see a lot of value in small-and mid-caps: Viraj Mehta, Equirus PMS

Indian enterprises do well in spite of the government and not because of the government. I think, markets will do reasonably well, irrespective of which party comes to power, Viraj says.

Stocks might look volatile currently but if someone's investment horizon is of two-three years, equities should return five - six per cent above inflation, says Viraj Mehta, managing director and fund manager at Equirus PMS, in an interaction with Swati Verma. Edited excerpts:

Stock markets across the globe, except India, have given decent returns this year. Why is the euphoria missing in Indian stocks?

It is a function of time frame. If you only look at the calendar year 2019 (CY2019), then it can be said India